Long term, I'm long PayPal. (PYPL) I'm looking for weakness now to add to my portfolio - I continue buying on red days. PayPal should re-test its previous resistance, and this will be the area I look to add at.
I've plotted a couple courses it could follow:
1. Re-test to previous resistance - now support - then retesting previous highs - pullback - new high.( what I think will happen) 2. Doesn't hold support line (retest area) and falls to next support zone within the yellow channel.